Covering even small financial “surprises” out of reach for many workers

It’s not a question of financial literacy, either, say researchers.

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Even though some households may have the money in savings, it is often already earmarked for another bill. (Photo: Shutterstock)

They say it’s a strong economy. They remind us that the unemployment rate is the lowest it’s been in decades. So why do so many households say they’d be up the creek if hit with a surprise bill of just $400?

Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.